New Twist on Lance Armstrong's Housing

Residential News » Celebrity Property | By WPC Celebrity Team | April 19, 2013 3:56 PM ET

It appears Lance Armstrong is staying in Austin, Texas, after all. Just a week after news reports confirmed that the disgraced cyclist is selling his Central Austin mansion, news agencies are reporting that he has purchased a 12,500-square-foot property overlooking Lake Austin for $4.34 million.

The new compound is in the exclusive Rob Roy subdivision, not far from his previous home, which was once featured in Architectural Digest. The new house has four separate Andersson-Wise designed structures, a sports court, home theater, art studio and a boathouse linked to the main house by a 200-foot bridge, according to the Austin Statesman. The house was originally listed at $5 million.

The Statesman reports:

"It's unclear why Armstrong suddenly began flipping real estate. He is facing several multi-million-dollar lawsuits as a result of his confession to extensive use of performance-enhancing drugs throughout his record-setting career. The federal government likely will reissue a whistle-blower suit this month after deciding to join the case in February."

Armstrong, who also has a home is Aspen, is not talking about his property moves. 

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